June 18, 2008

LinkedIn has made a big connection with investors, who are valuing the professional-networking company at more than $1 billion. LinkedIn said it had received $53 million in venture capital funding from Bain Capital Ventures and three existing investors in exchange for a 5% stake in the Silicon Valley company.

Rights offering is not dilutive. Many banks are doing this currently.

Fifth Third Bancorp said it will sell $1 billion in convertible preferred stock, sell noncore operations and slash its dividend by 66%, becoming the latest regional bank to try to shore up its balance sheet amid heavy credit losses.

We're only about a third of the way through the write-downs. Write-downs could reach $1.3T.